Hungarian-Israeli business forum held in Budapest

All political obstacles to Hungarian-Israeli economic cooperation have been cleared, Prime Minister Viktor Orbán said at a Hungarian-Israeli business forum on Wednesday.

In his closing remarks to the forum Orbán said Hungary’s Eximbank had opened a 600 million dollar credit line to support partnerships between Hungarian and Israeli companies.

He said Israel is Hungary’s third largest investor, noting that Israeli investments in Hungary totalled 11 billion dollars at the end of 2014, 12 percent of foreign investments in the country. He said there are 172 Israeli companies present in Hungary employing 4,570 people.

Israeli Prime Minister Benjamin Netanyahu, who is on a two-day visit to Hungary, assured the forum of the two governments’ support for business activities between Israeli and Hungarian companies.

He noted that Israel and the V4 countries had agreed to set up a working group to support technological cooperation.

Netanyahu said Israel and Hungary could learn from each other and offered that Israel would host IT fellows from the V4 countries so that they can master the most advanced cyber technologies in Israel.

Photo: MTI

Source: MTI